Brazil: Cassava grinding remains below expectations; average rises for the 7th week

Published 2024년 7월 29일

Tridge summary

Despite ongoing planting efforts, there is a low interest among producers in selling 1st cycle cassava roots, leading to a supply shortage that does not meet expectations, especially as starch stocks need replenishing. This has caused the average nominal forward price for a ton of starched cassava to rise for the seventh consecutive week to R$ 485.89, a 1.5% increase from the previous week, although it remains 34% lower in real terms compared to the same period last year.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

At the same time that planting work continues to be a priority, most producers continue to have low interest in selling 1st cycle roots, which already represent the majority of available crops. Therefore, the quantity of cassava offered remains below agents' expectations, especially at a time when starch stocks need to be replenished. In this scenario, the average nominal forward price for a ton of starched cassava rose for the seventh consecutive week, to R$ 485.89 (R$ 0.8450 per gram of ...

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